Show cause notice
This query is : Resolved
14 July 2013
hello .
My clent has rec Show Cause notice for AY 2010-11 in the yr 2013, he had rec about 4-5 notices from IT Dept.. but has not informed me about the said notices from IT Dept.
CASE
He has tfd huge amt of cash in yr 2009-10 and IT Dept based on the info given by AIR asked him to produce some Passbook Copy but the client did not informed me abut the leeter ,,,,n now after 4 notice IT Dept is asking for Penalty of Huge money along with Int ......
Now he has approached me...so what to do..
my client is not too educated... so can I write a letter to It Dept that he is not aware of the letter n can i asked them to restart again......
pls Advice
My clent has rec Show Cause notice for AY 2010-11 in the yr 2013, he had rec about 4-5 notices from IT Dept.. but has not informed me about the said notices from IT Dept.
CASE
He has tfd huge amt of cash in yr 2009-10 and IT Dept based on the info given by AIR asked him to produce some Passbook Copy but the client did not informed me abut the leeter ,,,,n now after 4 notice IT Dept is asking for Penalty of Huge money along with Int ......
Now he has approached me...so what to do..
my client is not too educated... so can I write a letter to It Dept that he is not aware of the letter n can i asked them to restart again......
pls Advice
16 July 2013
Kindly use Section 44AD of income tax act.
you have to show all cash as sales of retail business & 8 % will be taxable.
I have do the same in one of my case.
Ca Harsh Jain
Harsh R Jain & Associates
you have to show all cash as sales of retail business & 8 % will be taxable.
I have do the same in one of my case.
Ca Harsh Jain
Harsh R Jain & Associates
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